U.S. SENATE — U.S. Senator Steve Daines today urged Senate leadership to increase flexibility for restaurant owners and food supply chain workers under the Paycheck Protection Program (PPP).
“By matching PPP forgiveness to the needs of restaurants, Congress will ensure that these cornerstones of our communities are ready to welcome us back when we all can be together again,” Daines wrote. “Additionally, PPP forgiveness for material costs will support the people who work hard to grow and raise the food that we eat. We urge you to support our food supply chain workers and the restaurants that serve their products.”
To read the full letter, click HERE.
Daines is a calling for a commonsense way to provide additional support to businesses by amending PPP in order to make inventory, raw materials, and supplies, such as food supplies, forgivable in an amount similar to what a restaurant would have incurred during a normal operating season under the PPP covered period.
While payroll makes up a large portion of most restaurants’ expenses, food makes up about one third of operating costs, and is essential to the business model. This change to PPP would lessen the financial burden on many Montana restaurants who are facing hardships as they lean into reopening, thus increasing the likelihood of their survival
Background:
Daines has been leading the efforts in Congress to respond to the coronavirus outbreak impacting the country. To read about Daines’ COVID-19 related efforts, click HERE.
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